Author: Nick

Could Ownership Be A Part Of John Elway’s New Contract?

We’ve been talking about the Broncos’ ownership in comments the past two days, so it’s only appropriate that this article arises from Nicki Jhabvala:

“(Elway) may be a unique situation because of the ownership challenges,” [former agent Joel] Corry said. “One of the holdups might be him angling for some sort of ownership or a piece of the team.”

[…]

Bowlen is still the owner of the team, but the Broncos have been placed in a family trust operated by three trustees: Ellis, team counsel Rich Slivka and Denver attorney Mary Kelly. The trust is intended to serve as the vehicle to hand controlling ownership to Bowlen’s seven children. Each child will have equal stake as a beneficiary of the trust, but the trustees are tasked with appointing the ownership representative among the seven kids.

[…]

But consider the trustees also have the authority to sell the team in full and in part. Ellis, as president and CEO, has the power to extend Elway’s contract. And Ellis and the other two trustees have the authority to push to give him a piece of the team — should that even be something they and Elway are considering.

Before you proceed to my comments beyond the fold, also refresh yourself by reading this excellent 2014 article from David Migoya on the subject.

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